Weis Markets (NYSE:WMK) Shares Pass Below 200 Day Moving Average – Time to Sell?
by Michael Walen · The Markets DailyShares of Weis Markets, Inc. (NYSE:WMK – Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $72.79 and traded as low as $70.41. Weis Markets shares last traded at $71.57, with a volume of 149,024 shares traded.
Wall Street Analyst Weigh In
Separately, Weiss Ratings upgraded shares of Weis Markets from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Weis Markets currently has an average rating of “Buy”.
Check Out Our Latest Analysis on WMK
Weis Markets Trading Down 1.1%
The business has a 50 day moving average price of $77.81 and a 200-day moving average price of $72.81. The firm has a market capitalization of $1.75 billion, a PE ratio of 17.56 and a beta of 0.45.
Weis Markets (NYSE:WMK – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.92 earnings per share for the quarter. Weis Markets had a return on equity of 7.45% and a net margin of 1.99%.The firm had revenue of $1.28 billion for the quarter.
Weis Markets Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, July 27th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Monday, July 27th. Weis Markets’s payout ratio is presently 33.75%.
Hedge Funds Weigh In On Weis Markets
A number of institutional investors and hedge funds have recently made changes to their positions in WMK. EverSource Wealth Advisors LLC lifted its stake in shares of Weis Markets by 107.0% in the second quarter. EverSource Wealth Advisors LLC now owns 356 shares of the company’s stock valued at $26,000 after purchasing an additional 184 shares during the period. Versant Capital Management Inc grew its position in Weis Markets by 788.6% during the second quarter. Versant Capital Management Inc now owns 391 shares of the company’s stock worth $31,000 after buying an additional 347 shares during the period. Torren Management LLC acquired a new position in Weis Markets during the fourth quarter worth about $26,000. GAMMA Investing LLC increased its holdings in Weis Markets by 45.9% in the second quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $36,000 after buying an additional 145 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Weis Markets in the second quarter valued at about $55,000.
Weis Markets Company Profile
Weis Markets, Inc (NYSE: WMK) is a regional supermarket chain headquartered in Sunbury, Pennsylvania, operating more than 200 stores across the Mid-Atlantic and Eastern Seaboard. Founded in 1912 by Harry and Sigmund Weis as a small produce and egg business, the company has grown into a full-service grocer serving Pennsylvania, Maryland, New York, New Jersey, Delaware, Virginia, West Virginia and Ohio. Weis Markets offers a broad selection of products including fresh produce, bakery, deli, dairy, meat and seafood, alongside grocery, general merchandise and prepared foods.
In addition to traditional grocery offerings, Weis Markets provides pharmacy services in many of its locations, as well as in-store fuel centers at select sites.